VIBEHub, a Virtual space that gives access to various market hubs, is using blockchain technology to create the world`s first VR decentralized marketplace.

“Imagine being able to interact with someone on the other side of the world in virtual reality, over a cup of tea accompanied by live music at the same time. Essentially giving you the feeling of being in the same place, in a completely immersive environment of your choice.”, as the company stated on their website (vibehub.io).

VIBEHub claims to be at the forefront of linking between blockchain technology and Virtual Reality (VR). This is not surprising given the fact that the total revenue for virtual reality (VR) and augmented reality (AR) is expected to increase from $5.2 billion in 2016 to $162 billion in 2020, the International Data Corporation (IDC) wrote as quoted by Business Insider (businessinsider.com).

“For many years augmented and virtual reality were the stuff of science fiction. Now with powerful smartphones powering inexpensive VR headsets, the consumer market is primed for new paid and user generated content-driven experiences. Recent developments in healthcare demonstrated the powerful impact augmented reality headsets can have at the industry level, and over the next five years we expect to see that promise become realized in other fields like education, logistics, and manufacturing.”, as Chris Chute, vice president, Customer Insights and Analysis, told IDC.

VIBEHub users will be able to buy virtual set at a live concert, a virtual meet-and-greet with a favorite artist and even a lesson in guitar, yoga or boxing where the instructor is life sized and sitting in front of the users, according to a report published at cryptocoinnews.com.

On the other hand, blockchain technology and the VIBE token can monetize the virtual world, as the article explained.

“The VIBEHub is a place for artists to share music with fans, a place for teachers to share their knowledge with students, a place for friends to watch movies together, or a hub to set up dates. The hubs are community spaces where people can meet and interact using real-time voice communicatio.”, read an excerpt from the article.

Users who want to buy something on the hub will pay in Vibe tokens.

The VIBE platform has rolled out a marketplace for music creators as a proof of concept, as the report stated. The pre-token sale is coming soon offering a limited time opportunity for investors to join the VIBEHub initiative.

The platform will launch its main ICO round on August 22, 2017 ending on September 12, 2017, as cryptocoinnews.com noted.